Sector Investing

[ReturntoSender]

From Briefing.com: 4:20 pm : The S&P 500 climbed 0.7% as all ten sectors settled in positive territory.

Stocks registered the bulk of their gains during the opening hour after upbeat economic data from China combined with Syria's agreement to put its chemical weapons under international control lured participants into equities.

In addition to sparking a risk bid, the lowered likelihood of military action against Syria caused a handful of safe-haven assets to slide. Crude oil and gold futures sold off in the morning before spending the remainder of the session near their lows. Gold fell 1.6% to $1364.90 per troy ounce while oil slumped 2.0% to $107.29 per barrel. Treasuries also faced some selling, which sent the benchmark 10-yr yield higher by four basis points to 2.96%.

With the Syrian situation remaining fluid, tonight's presidential address at 21:00 ET is expected to receive significant attention. The speech is likely to focus on finding a diplomatic solution while reserving the right for military action should Syria fail to comply.

The retreat in oil prices weighed on the energy sector, which ended flat. Meanwhile, most other cyclical groups finished ahead of the broader market.

Industrials (+1.4%) ended in the lead thanks to all-around strength. The largest sector member, General Electric (GE 23.87, +0.48) rose 2.1% and transportation companies also rallied across the board. The Dow Jones Transportation Average climbed 1.9% as lower oil prices contributed to the outperformance. Industrials were followed by the financial sector, which gained 1.2%. Goldman Sachs (GS 165.14, +5.65) paced the sector's advance after it was announced the investment bank along with Nike (NKE 66.82, +1.42) and Visa (V 184.59, +6.04) will enter the Dow Jones Industrial Average following next Friday's close. The trio will replace Alcoa (AA 8.06, -0.03), Bank of America (BAC 14.61, +0.13), and Hewlett-Packard (HPQ 22.27, -0.09) in the price-weighted index.

The technology sector (+0.6%) traded in-line with the S&P through the first half of the session, but was pressured by its largest component during afternoon trade. Apple (AAPL 494.64, -11.53) lost 2.3% after its product refresh event was met with investor disappointment.

With regard to countercyclical sectors, consumer staples (+0.1%) and health care (+0.6%) lagged while utilities (+0.7%) ended in-line. The weakest group of the third quarter, telecom services (+1.1%), narrowed its quarter-to-date loss to 5.1% as Verizon (VZ 46.47, +0.56) gained 1.2% after the company's bond offering received significant interest.

Given the lowered likelihood of military involvement in Syria, the CBOE Volatility Index (VIX 14.52, -1.11) registered its first close below 15.00% for the first time since August 26.

Today's session received solid participation as 773 million shares changed hands on the floor of the New York Stock Exchange.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET and July wholesale inventories will cross the wires at 10:00 ET.DJ30 +127.94 NASDAQ +22.84 SP500 +12.28 NASDAQ Adv/Vol/Dec 1678/1.76 bln/853 NYSE Adv/Vol/Dec 1996/773.0 mln/1012

3:30 pm : Commodities sold off this morning and most barely climbed off session lows. Syrian headlines helped keep oil prices lower today, which ended near the $107/barrel area. Oct crude oil closed the day 2% lower at $107.39/barrel.

Natural gas prices were volatile this morning, but after whipping back into the red this morning, the energy component remained in the red. Oct nat gas fell 3 cents to $3.58/MMBtu.

Gold and silver spent all day in negative territory. Both precious metals sold off to new session lows in early morning trade and spent the rest of the day inching slowly higher. Dec gold ended the day 1.6% lower at $1364.00/oz, while Dec silver fell 3% to $23.01/oz.

4:32PM Integrated Device announces departure of Chief Financial Officer (IDTI) 9.37 +0.12 : Co announced that Richard D. Crowley, senior vice president and chief financial officer, will be resigning his position with IDT to pursue another executive opportunity. Mr. Crowley will continue to serve as a financial advisor to the Company through September 17, 2013. Co has appointed Brian C. White as chief financial officer effective September 11, 2013. White has more than 25 years of accounting and financial experience, including six years as vice president of finance and treasurer at IDT.

4:31PM Intersil announces appointment of Richard Crowley as Chief Financial Officer (ISIL) 10.089 +0.09 : Co announced the appointment of Richard Crowley as senior vice president and chief financial officer effective September 23. Mr. Crowley brings over 30 years of industry experience to the role and is the latest addition to the Intersil management team leading the transformation of the company.

Crowley has been a CFO at various complex, multinational semiconductor firms since 1998. With over thirty years of increasing financial management responsibility Mr. Crowley has developed a deep understanding of the unique aspects of managing a business in a fast-paced and innovation-oriented industry.
4:30PM Texas Instruments narrows Q3 guidance at mid quarter update; sees GAAP EPS of $0.51-0.55 versus prior guidance of $0.49-0.57 and GAAP Capital IQ consensus of $0.53; sees revs of $3.15-3.29 bln versus prior guidance of $3.09-3.35 bln and $3.225 bln Capital IQ consensus. (TXN)

4:19PM SunEdison announces proposed public offering of 30 mln shares of common stock (SUNE) 8.35 +0.53 : Co announced that it will file a prospectus supplement to a registration statement filed on Form S-3 with the SEC, relating to a proposed underwritten public offering of shares of common stock. The Company will be offering 30,000,000 shares of its common stock. The Company intends to use the net proceeds for general corporate purposes, which it expects to include funding working capital and growth initiatives. Deutsche Bank Securities and Goldman, Sachs & Co. are acting as joint book-running managers for the offering.

3:23PM NXP Semi prices $500 mln 3.5% senior unsecured notes offering (NXPI) 38.97 +0.46 : Co announced today the pricing of the previously announced offering by its subsidiaries NXP B.V. and NXP Funding LLC of USD 500 million aggregate principal amount of senior notes due 2016. The Unsecured Notes will bear interest at 3.5% per annum and will mature on September 15, 2016. Interest on the Unsecured Notes will be payable semi-annually on September 15 and March 15 of each year, beginning on March 15, 2014. NXP intends to use the net proceeds of the offering to repay amounts outstanding under its U.S. dollar denominated 9.75% senior secured notes due 2018 and for general corporate purposes.

2:14PM Apple confirms partnership with NTT DOCOMO to offer iPhone in Japan on Friday, September 20 (AAPL) 502.00 -4.17 : NTT DOCOMO and Apple confirmed that iPhone 5s and the iPhone 5c will be available on the DOCOMO network beginning on Friday, September 20.

2:12PM Apple confirms iPhone 5s, iPhone 5c (AAPL) 504.41 -1.76 : Co confirmed the iPhone 5s featuring an all-new A7 chip, making iPhone 5s the world's first smartphone with 64-bit desktop-class architecture. "iPhone 5s redefines the best smartphone experience in the world with amazing new features all packed into a remarkable thin and light design, including an all-new 8 megapixel iSight camera with True Tone flash and introducing Touch ID, an innovative way to simply and securely unlock your phone with just the touch of a finger. iPhone 5s comes with iOS 7, the most significant iOS update since the original iPhone, engineered for 64-bit technology and featuring hundreds of great new features, including Control Center, Notification Center, improved Multitasking, AirDrop , enhanced Photos, Safari , Siri and iTunes Radio."

iPhone 5s comes in gold, silver or space gray, and will be available in the US for a suggested retail price of $199 (US) for the 16GB model and $299 (US) for the 32GB model and $399 (US) for the 64GB model. iPhone 5s will be available in the US, Australia, Canada, China, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the UK on Friday, September 20. A new iPhone 4S 8GB model will also be available for free.

Co also confirmed the iPhone 5c, featuring an all-new design in five colors-blue, green, pink, yellow and white. "iPhone 5c is built on a foundation of features people know and love like the beautiful 4-inch Retina display, blazing fast performance of the A6 chip, and the 8 megapixel iSight camera-all while delivering great battery life. iPhone 5c comes with more LTE bands than any other smartphone in the world, a new FaceTime HD camera, and iOS 7, the most significant iOS update since the original iPhone."

iPhone 5c comes in blue, green, pink, yellow and white and will be available in the US for a suggested retail price of $99 (US) for the 16GB model and $199 (US) for the 32GB model. iPhone 5c will be available in the US, Australia, Canada, China, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the UK on Friday, September 20, and customers can pre-order their iPhone 5c beginning Friday, September 13. A new iPhone 4S 8GB model will also be available for free.

Large Cap Gainers

TTM (26.61 +5.85%): Co plans to enter the Indonesian market, according to reports; India names showing strength with Sensex gains.
DAL (22.65 +4.09%): Co to be included into the SPX 500 as of the close of trading today; also strength in airline names (UAL also higher).
MYL (38.11 +4.44%): Upgraded to Outperform from Mkt Perform at Bernstein; GlaxoSmithKline (GSK) unable to recover losses following FDA Draft Guidance for industry on bioequivalence recommendations for Advair (fluticasone propionate).

Large Cap Losers

PVH (124.03 -6.12%): Beat on EPS by $0.01, beat on revs; issued mixed guidance.
CAG (31.18 -7.09%): Lowered FY14 EPS guidance.
GG (27.56 -5.32%): Metals/mining names trading lower (ABX also lower).

Mid Cap Gainers

FIVE (47.8 +16.47%): Beat on EPS by $0.02, beat on revs; guided Q3 EPS in-line, revs slightly below consensus; raised FY14 EPS in-line, raised FY14 revs in-line; Q2 comps +6.6%; tgt to $51 from $40 at Deutsche Bank, to $51 from $45 at Jefferies; tgt raised to $50 from $45 at UBS; upgraded to Neutral from Sell at MKM Partners, tgt raised to $41.
SCTY (34.38 +15.02%): Co and Direct Energy signed multimillion dollar deal to provide solar electricity to businesses.
SBGI (28.92 +7.15%): Tgt raised to $42 at The Benchmark Company; FMR reported new stake of 10.470% in co.

Mid Cap Losers

HDS (21.52 -13.05%): Beat on EPS by $0.03, missed on revs; guided FY13 EPS below consensus, revs below consensus.
URBN (38.12 -10.75%): Trading lower likely due to comments that Q3 retail segment net sales are mid single-digit positive; heard ests lowered at William Blair.
TPX (40.89 -4.35%): Disclosed that it sees 2016 sales target of $3.3 bln versus $3.02 bln Capital IQ consensus; sees FY16 EBITDA target of $550 mln.

Cypress Semiconductor (CY) announced that LSI has selected Cypress's parallel nonvolatile Static Random Access Memories for its new 12Gb/s SAS Host Bus Adapters for high-performance servers, workstations and external storage systems.

Semtech (SMTC) announced its partnership with OmniTek. OmniTek, utilizing Semtech's 6G UHD-SDI Equalizers, is the first broadcast test and measurement supplier to bring to market products featuring a 6G UHD-SDI interface

MSC (AMSC) announced that Consolidated Power Projects has selected AMSC's D-VAR STATCOM solution to connect South Africa's largest wind farm to the electricity grid.

AMD (AMD) disclosed two best-in-class x86 accelerated processing units and central processing units, a first look at a high-performance ARM system-on-chip and a new family of discrete AMD Embedded Radeon graphics processing units expected to launch in 2014.

Cadence Design Systems (CDNS) introduced the Palladium XP II Verification Computing Platform as part of an enhanced System Development Suite, significantly speeding up hardware and software verification.

Market Summary
[Edit]
streaming quotes: ON
Chart for NASDAQ Composite Index (^IXIC)
Chart for Dow Jones Industrial Average Index (^DJI)
Symbol Last Change
Dow 15,191.06 Up 127.94(0.85%)
Nasdaq 3,729.02 Up 22.84(0.62%)
S&P 500 1,683.99 Up 12.28(0.73%)
10-Yr Bond 2.9590% Up 0.0620
NYSE Volume 0
Nasdaq Volume... 0
Indices: US - World | Most Actives
Advances & Declines
NYSE NASDAQ
Advances 2,699 (64%) 1,644 (63%)
Declines 1,416 (34%) 855 (33%)
Unchanged 108 (3%) 101 (4%)
Up Vol* 2,795 (70%) 1,190 (66%)
Down Vol* 1,182 (29%) 601 (33%)
Unch. Vol* 44 (1%) 19 (1%)
New Hi's 293 206
New Lo's 126 27
*in millions
more...
Most Actives
NYSE LAST CHANGE
DAL 22.63 Up 4.00%
BAC 14.61 Up 0.90%
VXX 14.94 Down 3.70%
ALU 3.52 Up 2.33%
F 17.55 Up 1.39%
Nasdaq LAST CHANGE
MU 16.26 Up 4.13%
MSFT 32.39 Up 2.32%
FB 43.60 Down 1.00%
BBRY 10.94 Down 5.12%
DRYS 2.9650 Down 3.89%
more..